Saudi Arabia
July 16, 2003
A Memorandum of Understanding was signed between Commerce International Merchant Bankers, a Malaysian investment bank, and Al-Tawfeek Company for Investment Funds, a financial subsidiary of the Dallah
The Saudi Cabinet approved on July 14 a new law regulating the insurance sector in the Kingdom. Scheduled to take effect in three months, the law will open the sector to foreign investors and is one o
National Industrial Gases Company (GAS), an affiliate of Saudi Basic Industries Corporation (SABIC), has awarded a lump sum turnkey contract for the engineering, procurement and construction of an air
Mediterranean carrier Cyprus Airways has appointed George Kapello as head of its operations in the Saudi Kingdom. Cyprus Airways' passenger numbers to and from Riyadh grew 6.2 percent in 2002 compared
ABC Islamic Bank hosted a group of regional and international banks at the signing of the first stage Modaraba syndication of an $80 million commercial master Murabaha structured for Vitol of Switzerl
July 15, 2003
Canada's foreign ministry Monday warned its nationals to avoid travel to Saudi Arabia because of heightened tensions in the Middle East and the ongoin
Egyptian television officials have announced that they forbid the appearance of Egyptian actress Muna Shalabi on all its satellite and local channels due to the fact that she failed to be present at a
Despite the ongoing grass-root boycott campaign in the Arab world against US goods and services, McDonald's has reported growth in the region with the opening of new stores and the introduction of new
The US Trade and Development Agency is supporting a feasibility study on developing a mortgage lending program in Turkey. The study will be conducted by a US firm, Fannie Mae, in cooperation with OYAK
Standard & Poor's Ratings Services has assigned its A+ long-term local currency and its A long-term foreign currency sovereign credit ratings to the Kingdom of Saudi Arabia. The outlook on the long-te
The Bahrain-based Gulf Finance House has completed the first transactions in its Islamic structured French property fund, Gulf Atlantic France. The first was a €70 million deal concluded by GFH with U
July 14, 2003
Saudi Arabia will soon extradite to Yemen eight fugitives, some of them involved in the bombing of USS Cole, Yemeni Interior Minister Rashid al-Alami
United Arab Emirates (UAE) President Sheikh Zayed bin Sultan al-Nahyan has undergone a hernia operation in Geneva, his office announced on Sunday. Th
Banque Saudi Fransi (BSF) announced a 16 percent increase in net income for the first half period of 2003 reaching 587.4 million Saudi riyals ($156.6 million), as compared to the results of the same p
Jeddah-based National Air Services (NAS) and Arab Banking Corporation (ABC) have signed an agreement for the financing of a Gulfstream IV-SP aircraft. NAS will introduce this new $30 million aircraft